At what rate compounded monthly will P4,222 accumulate to P16,444 in 2 years and 10 months?

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 12PROB
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At what rate compounded monthly will P4,222 accumulate to P16,444 in 2 years and 10 months?
O 40.80%
46.98%
O 48.96%
O 49.86%
Transcribed Image Text:At what rate compounded monthly will P4,222 accumulate to P16,444 in 2 years and 10 months? O 40.80% 46.98% O 48.96% O 49.86%
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